Stocks Higher into Final Hour on Central Bank Hopes, Buyout Speculation, Yen Weakness, Biotech/Healthcare Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 13.56 -3.07%

• Euro/Yen Carry Return Index 153.03 +.93%

• Emerging Markets Currency Volatility(VXY) 7.96 -2.21%

• S&P 500 Implied Correlation 35.62 -7.48%

• ISE Sentiment Index 94.0 -17.54%

• Total Put/Call .94 +9.30%

• NYSE Arms .74 -6.31% 

Credit Investor Angst:

• North American Investment Grade CDS Index 66.70 +.4%

• European Financial Sector CDS Index 68.06 +1.98%

• Western Europe Sovereign Debt CDS Index 30.92 -1.87%
• Asia Pacific Sovereign Debt CDS Index 63.64 -.33%

• Emerging Market CDS Index 283.88 -1.57%

• China Blended Corporate Spread Index 323.40 -.11%
• 2-Year Swap Spread 21.25 unch.

• TED Spread 21.75 -1.0 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -9.25 unch.

Economic Gauges:

• 3-Month T-Bill Yield .01% unch.

• Yield Curve 182.0 -1.0 basis point

• China Import Iron Ore Spot $71.80/Metric Tonne -4.37%

• Citi US Economic Surprise Index 10.50 +2.1 points
• Citi Eurozone Economic Surprise Index -15.70 +8.3 points

• Citi Emerging Markets Economic Surprise Index -2.20 +.7 point

• 10-Year TIPS Spread 1.86 -1.0 basis point

Overseas Futures:

• Nikkei Futures: Indicating +105 open in Japan

• DAX Futures: Indicating +23 open in Germany

Portfolio: 

• Higher: On gains in my biotech/medical/tech sector longs

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back

• Market Exposure: 50% Net Long